Showing 1 - 10 of 36
This paper investigates the link between institutional ownership and dividend policy. Utilizing a dividend payout model, which accounts for earnings trends and partial adjustments of dividends, a positive but marginally diminishing relation is found between institutional ownership and dividends....
Persistent link: https://www.econbiz.de/10005419318
Institutional theory suggests that informal institutions effectively constrain human behavior. Culturally embedded norms and values align corporate governance with socially acceptable outcomes. We argue that active foreign investors can act as agents of change in corporate governance....
Persistent link: https://www.econbiz.de/10010739964
Private equity companies have become a major force in the economic landscape. Financial- and operational-engineering are innovative characteristics of this emerging method of finance. The existing empirical data provide strong evidence that private equity activity contribute positively to the...
Persistent link: https://www.econbiz.de/10008487212
Shares with more voting rights than cash flow rights provide their owners with a disproportional influence that is often found to destroy the value of outside equity. This is taken as evidence of discretionary use of power. However, concentration of power does not necessarily result from control...
Persistent link: https://www.econbiz.de/10008853950
This paper replicates and extends the empirical work of Boyd’s 1995 article: CEO Duality and Firm Performance: A Contingency Model. We retest Boyd’s hypotheses using a database of over 11,000 Swedish firms from the year 2005 to 2009. Similar to Boyd, we find that CEO duality is positively...
Persistent link: https://www.econbiz.de/10011200201
In this paper we present the first evidence for a link between foreign ownership and credit constraints for Germany, one of the world's leading target countries for foreign direct investment. Furthermore, we contribute to the literature by investigating the impact of a foreign acquisition on the...
Persistent link: https://www.econbiz.de/10010818720
This study elucidates how firm location and corporate structure influence R&D-intensity, external collaboration on innovation, return on R&D and economic performance. The study, based on 1,907 firm level observations, essentially compare a functional region with four other regional areas in...
Persistent link: https://www.econbiz.de/10005644905
The ambiguity reported in previous research as regards the effect of foreign direct investment (FDI) on domestic investments is shown to be related to how industries are organized. Based on a simple model including monitoring and trade costs, we argue that a complementary relationship should...
Persistent link: https://www.econbiz.de/10005644920
Recent debate has focused on how foreign direct investments and foreign take-overs may effect growth and welfare. In this study we have methodologically approximated foreign-ownership by foreign take-over and raised the question: how would a firm’s behaviour and performance have been if a...
Persistent link: https://www.econbiz.de/10005644951
Over the past decades, there has been a dramatic increase in the foreign-ownership of firms in the four Nordic countries Denmark, Finland, Norway and Sweden. This increase has generated interest in the welfare effect of foreign take-over of national assets. In this paper we ask: how would a...
Persistent link: https://www.econbiz.de/10005644954